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"People Embrace It," Trump Admits He Could Live With Bitcoin

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By Brennan Forrest - - 5 Mins Read
Donald Trump art portrait illustration
Photo | DannyOliva / Shutterstock.com

Former United States President and current candidate in the upcoming elections, Donald Trump, recently made headlines by expressing a newfound acceptance of Bitcoin. This marked a departure from his anti-crypto stance. 

In an exclusive interview with Fox News, Trump acknowledged the growing influence of Bitcoin, recognizing its increasing adoption for transactions and the need for regulatory measures to govern the digital asset.

Donald Trump, who had been a vocal critic of cryptocurrencies, hinted at a more open-minded perspective on Bitcoin.

He acknowledged witnessing incidents related to BTC, such as a growing number of individuals expressing interest in utilizing cryptocurrency for everyday transactions. This admission suggested a shift in Trump's perception of the leading digital currency.

Despite Bitcoin's surging popularity, Trump remained firm in his allegiance to the United States dollar (USD).

He emphasized his enduring preference for the stability and power of the dollar while recognizing the need for regulatory frameworks to manage the crypto market.

Just three years ago, he went on record describing investments in crypto assets as a potential disaster, labeling Bitcoin as a scam and attributing it to the devaluation of the greenback.

In an impassioned plea, he urged regulatory authorities to impose stringent measures on cryptocurrencies, citing their perceived threat to the stability of the USD.

Former US President Donald Trump
Donald Trump | Shutterstock

However, Trump's anti-Bitcoin stance began to soften in 2022.

The announcement of his non-fungible token (NFT) collection raised eyebrows, demonstrating a willingness to embrace blockchain technology.

The success of Trump's NFT venture, which sold out within 24 hours, underscored a shifting narrative as the former president ventured into the crypto business.

A Family Affair: Trumps and Cryptocurrency

The Trump family's engagement with cryptocurrencies extended beyond the former president's NFT venture.

Melania Trump, the former first lady, unveiled her own NFT collection on the Solana blockchain a year before Donald's foray into the crypto space.

Melania's collection proceeds supported foster children's education and showed the Trumps' interest in blockchain technology.

Earlier this year, Donald Trump pledged to stop the creation of a central bank digital currency in the US if he became president.

He expressed concerns about the potential threats CBDCs pose to individual freedom, while cautiously embracing aspects of the crypto revolution.

Regulation: Trump's Call for Oversight

In the recent interview, Trump acknowledged the necessity of regulation in the crypto space, aligning with a broader trend of policymakers recognizing the need for oversight.

While expressing openness to Bitcoin, he emphasized the importance of regulatory measures to safeguard against potential risks associated with digital currencies. 

"You probably have to do some regulation, as you know. But many people are embracing it, and more and more, I’m seeing people wanting to pay 'bitcoin,' and you’re seeing something that’s interesting. So, I can live with it one way or the other. I’ve always liked one really powerful thing, and that’s called the dollar," he stated during the Fox News interview.